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COVID 19 CARES Act Hosted by GRCA - Shared screen with speaker view
Kate Flowers
34:11
Hello everyone
John Savant
40:49
We can hear you!
Derek Harris
41:24
Question 1: For the average monthly payroll, the bill itself says to use “the average total monthly payments by the applicant for payroll costs incurred during the 1 year period before the date on which the loan is made”. That would make it from April 2019 through March 2020. The application itself says “most Applicants will use the average monthly payroll for 2019”. Which one should we use?
Derek Harris
42:01
Question 2: There is more information available on PPP. Can someone share info on what might be available to help municipalities and other local government organizations (like a convention center authority whose tourism season has been halted)? Thanks!
Ken Kilpatrick
44:08
Paycheck protection. If someone works part time can that paycheck be protected? Even if that person is in the family. 2. What about the owner’s paycheck?
Stephanie Steffy
44:08
Has Pennsylvania released their maximum weekly benefit rate. Previously it had been $573/week. Is the new weekly benefit rate maximum $1173/week through 7/31/2020?
Melissa Wells
44:39
Question - Can insurance payments be included in PPP loan amounts and still be forgiven? Can guaranteed payments to owner(s) in an LLC be included in the payroll calculation? Similarly, can owners continue to pay themselves in this way using PPP loans and still have the amount forgiven?
Jaden Bodden
44:47
Can you please send us a PDF of these slides afterwards?
Greater Reading Chamber Alliance
46:20
The slides and the recording will be released later today after the end of the webinar.
Ken Kilpatrick
47:49
Bernie Sanders must love the work for nothing provision
Jeff Straccia
51:04
what do you do with a person who is afraid to come to work - pay, unemployment etc. Work is available.
Kirsten Deysher
53:08
Is there an advantage to submitting with multiple lenders?
Tiffany Davies
56:12
What about paying ourselves, as the owner of an LLC? I had no employees yet. If I do, is the PPP loan still forgiven?
brett schorle
56:45
Government wants to give money to small business to keep paying employees- what about medium size companies? 500+ but privately held?
Keegan Worley
57:37
Regarding reduction of PPP loan forgiveness relating to reduction in FTEs: is the FTE reduction taken into account at time of loan origination or is it retroactive to a certain date?
Ken Kilpatrick
59:13
Is the Disaster Loan up to $200,000 with out PG based on a Formula?
Diane Sismour
59:30
Do LLC employers wages count towards this program?
Jim Adams
59:47
IM a realestate guy -1099 no emplyees how would it work
Tiffany Davies
01:00:20
I applied to EIDL two weeks ago. It said it was under review, but no word since. Have any of you that have applied for this already too actually received a call from a loan officer yet to get to the next step?
Connie Skipper
01:00:31
Are ag businesses exempt from applying from the EIDL program? Is a confectioner mfg and retail store considered an ag business.
Ken Kilpatrick
01:00:49
Tiffany, you should have gotten the $10,000 app. I did. Any monitors on here?
Tracey Etchberger
01:01:46
can the IDLE loan be taken in addition to the PPP?
Tiffany Davies
01:01:49
Ken, I did do redo the application after they added the $10,000 advance option. Still no word from anyone!
Tiffany Davies
01:01:58
Tracey...yes
Janell Harakel
01:03:12
Can we receive a copy of this PPT?
Tiffany Davies
01:03:24
is that sick leave the family act I heard about?
ellen albright
01:03:27
Janell - it will be provided this afternoon.
Sherry Kutz
01:04:08
what do you do with a person who is afraid to come to work - pay, unemployment etc. Work is available.
Trish Talarico
01:04:21
I have two confirmation numbers for the 10,000 grant and no further contact from the SBA. I was told to file a third time! This does not sound correct.
Ken Kilpatrick
01:04:30
is there a formula to borrow up to $200,000 without PG?
Ken Kilpatrick
01:04:39
Trish, it’s Russian collusion
Tiffany Davies
01:04:41
can my partner take off to take turns with me caring for my kids? Not his. But we live together and bought our home together
Tiffany Davies
01:05:13
id like to know that too Sherry
Matt Robinson
01:07:10
If you have an employee that has traveled for business to an infected area are you to tell then to self quarantine upon return? If so how do you handle the pay of that employee?
Lauren Cunningham
01:09:11
How long will it take for applications to be processed and a decision made ?
Tiffany Davies
01:09:31
I first applied for EIDL on the second day it opened. I got an email my first application for EIDL was under review like 2 days later, but nothing sinc. Then, when I heard to reapply after the $10,000 was added to the application, I did...but never received any confirmation that that was even received.
Tiffany Davies
01:09:55
But what if the $10,000 loan was used for something other than payroll?
stacey
01:09:58
I’d like to know too, Lauren
Jaden Bodden
01:10:14
Question regarding the $1,200 / $2,400 payment - I filed single in 2018. Got married in 2019, but haven’t filed my 2019 return yet. My wife is from Austria, so she hasn’t filed a US return yet - our 2019 joint return will be her first. She doesn’t work (pregnant), but has her green card. I’m assuming I’ll only get sent $1,200…do you know how I can find out how to get the $2,400 for married couples?
Trish Talarico
01:10:18
Tiffany I did the very same thing and have not heard a thing.
Lauren Cunningham
01:10:47
I did not receive a copy of the Powerpoint - where can I get it ?
Jaden Bodden
01:10:55
Neither did I.
eric bluestone
01:11:15
how can you determine if it is more favorable to take ppe loan vs leaving employees on unemployment due to payrodue to payroll taxes
Tiffany Davies
01:13:35
I have two businesses. One just opened 5 months ago. It's a pass through LLC with no employees yet....if I hired a new employee now, could I get PPP grant coverage for them?
Keegan Worley
01:13:59
Regarding reduction of PPP loan forgiveness relating to reduction in FTEs: is the FTE reduction taken into account at time of loan origination or is it retroactive to a certain date?
stacey
01:14:00
yes Eric so many options. How do we know what is best for businesses & employees!
Tiffany Davies
01:15:10
yeah, otherwise, when you go to reopen you wont have employees
Barbara Coffin
01:15:15
does the PPE cover part time employees and contract employees necessary to maintain required staffing patterns in a non profit personal care boarding homes?
Jeff Straccia
01:16:49
does it apply when a person does not want to work - but work is available. if I pay that person, can I get the credit
Melissa Wells
01:16:59
Mark, can you please start with the first questions asked, rather than the most recent?
Jeff Straccia
01:17:06
the person is afraid to come to work
iris Bellman
01:18:51
I have applied for the EIDL loan, but there was nothing to indicate the amount we were asking for regarding a loan amount. Also, when I attempt to find the status of the application, the SBA website directs me to complete an application...how can I make a request for application update and/or request the $10,000 emergency funds?
Jaden Bodden
01:19:11
I don’t understand why the PPP requires you to hire back your employees right away, even if your business is shut down. Our employees are at home and receiving unemployment, they’re fine. It would be much more helpful to have this PPP loan cover my payroll expenses when we start back up and are actually working, since it’ll take 2-3 months for revenues to start coming back in.
ellen albright
01:19:49
Please put your sound on MUTE if you’re not speaking!
stacey
01:20:10
yes I just started I. Dec 2019. just started to get my feet off the ground ( and have 4 employees) I’m hoping that my employees are taken care of!!!
Tiffany Davies
01:20:13
good point Jaden
Kirsten Deysher
01:20:18
can the host mute Dayana Blandon
John Savant
01:20:21
Was about to say the same! Host could mute all and then unmute Kevin.
Tiffany Davies
01:21:22
If Mark's chat was open when those first questions were asked, I don't think he can see them
Tracey Etchberger
01:22:42
just to clarify again - Kevin can you confirm the IDLE can be taken in conjunction with the PPP
Melissa Wells
01:22:44
Can the owner's guaranteed payments in an LLC be included for PPP calculation? Can that be eligible for forgiveness? Are insurance payments considered "utilities" for purposes of PPP eligibility?
Tiffany Davies
01:24:07
Iris- you have to reapply again. It's was easier this time. There's a checkbox for if you want to be considered for the $10,000 loan advance. I was told to reapply again to get it.
Stephanie Steffy
01:24:55
thank you!
iris Bellman
01:26:02
Thank you Tiffany!
Gene Carter
01:27:31
is it 100k cap per employee or is it 100k cap on comp PLUS insurance, retirement etc.?
Trish Talarico
01:28:46
Has anyone received the EIDL loan? I have two confirmation numbers and was told to apply again with no answer on what happened to two previous applications. I applied with the new format as well.
Tiffany Davies
01:29:42
maybe they could get a doctors note to excuse them so theyre eligible for the family protection act
Trish Talarico
01:30:00
FMLA pays 10 weeks
Tiffany Davies
01:30:33
ooops. its called Family First Coronovirus Response Act
Tiffany Davies
01:33:33
which of the 3 credit agencies does the SBA use to get your credit score?
Tiffany Davies
01:33:47
Yes, thank you all!!!!
Stephanie Steffy
01:33:49
thank you so much!